Ngelmish wrote:You know, at the end of the Napoleonic wars, Britain's debt to GDP ratio was over 300%. That didn't stop them from being the preeminent superpower for the next century. Debt is not the determinative factor on a country's level, although it can contribute negatively depending on other circumstances.
But even if defaulting is your strategy to deal with it (a bad one) announcing it will only exacerbate the effects.
I believe British debt also reached 200% at the end of WWII, and Britain remains a rather powerful and important state today